Originating & Underwriting

Manufactured Housing Financing

Webinar: Introduction to MH Financing

Join Fannie Mae representatives to learn about manufactured home financing options, with an overview of programs and policies that can support your manufactured home financing business.

Register for December 7

 

Affordable financing options

With the country facing a shortage of affordable homes, manufactured housing provides a solution for borrowers ready to purchase. Whether a borrower is taking one of the most affordable paths to homeownership, or a more attainable alternative to site-built homes, Fannie Mae offers options to help a range of customers achieve the dream of homeownership.

See why Guild Mortgage supports MH Advantage

MH Advantage® combines features like a down payment as low as 3%, with the lower price and customizable finishes of modern manufactured homes. MH Advantage homes are built to blend into a range of neighborhoods, even those with site-built homes.

Questions?

Lenders: Contact your relationship manager.

Retailers/Manufacturers/Builders/Developers

Contact us by email to learn more, including how to become a participating manufacturer.

MH mortgages

  Standard MH
For traditional single- and multi-width manufactured homes.
MH Advantage
For homes built to appeal to site-built borrowers.
Minimum down payment 5% 3%

Must be titled as real property

See Titling Resources

Yes Yes
Design Traditional single- and multi- width homes. Multi- width homes with features similar to site-built homes. See Home Specs

Appraisals 

See Appraisal Resources

Must include a minimum of two manufactured home comps. Additional requirements for single-width MH. Must use MH Advantage comps if available. May use site-built comps if MH Advantage comps are unavailable.
LLPA 0.50%* N/A

MI Coverage

See MI Coverage Requirements

Varies from site-built homes. Consistent with site-built homes.

See the MH Product Matrix for more information about MH Advantage and Standard MH Financing.

*Loan Level Price Adjustments (LLPAs) are waived for first-time homebuyers that meet certain income requirements and Duty to Serve loans. See the LLPA Matrix and Duty to Serve eligibility requirements for details.

gray manufactured home with porch and garage